Technical_Analysis_page_151

Technical | Analysis page 151 | https://thedailydialectics.com/pdfs/economics/Technical_Analysis/Technical_Analysis.pdf

122 Part Il_ Markets and Market Indicators Art Merrill studied transactions of large blocks of 50,000 or more shares. Merrill divided the blocks into categories of upticks, downticks, and flat, smoothing each category’s data. He ran a ratio of the uptick average to the downtick average, smoothing…